Injective (INJ) gained more than 10% as Nasdaq approved the listing of Canary Capital's Staked INJ ETF under the ticker INJC. The development gives institutional and traditional brokerage investors a new route to gain exposure to INJ, while also introducing staking rewards into the fund's structure.

The announcement followed a Form 8-A filing submitted by Canary Capital to the US Securities and Exchange Commission (SEC) on November 3. The filing confirms that Nasdaq approved the ETF's listing application. 

INJ traded around $8.52 gaining approximately 10.45% over 24 hours. The move reflects growing interest in the ETF development, although broader cryptocurrency market strength may also have contributed. Traders can follow the latest Injective price data for further updates.

Canary's ETF Will Stake at Least 90% of Its INJ Holdings

The Canary Staked INJ ETF is designed to track the price of Injective while generating additional INJ through network staking.

Under its proposed structure, the fund intends to stake at least 90% of its INJ holdings under normal circumstances. A portion may remain unstaked to support liquidity, redemptions, and operational requirements.

The fund's staking rewards are intended to contribute to its net asset value rather than being distributed directly to shareholders as cash. This gives investors exposure to both INJ price movements and the economic benefits of staking through a traditional brokerage product. 

The ETF lists BitGo Bank & Trust as its digital asset custodian and Luganodes as its staking provider. Canary's website lists an annual sponsor fee of 1.10%. 

Nasdaq Listing Approval is Not the Same as SEC Trading Approval

Although Nasdaq has approved the listing application, the ETF's public trading depends on a separate regulatory step.

Canary's Form 8-A registers the fund's shares under Section 12(b) of the Securities Exchange Act and confirms Nasdaq's approval. However, the fund's separate Form S-1 registration statement must become effective before shares can be publicly offered and traded.

This distinction matters because an exchange listing approval does not automatically mean that the fund is ready to begin trading. 

Nasdaq's November 4 notice scheduled the Canary Staked INJ ETF to begin listing on November 5 under the ticker INJC.

What the ETF Could Mean For Injective

The launch could expand access to INJ beyond cryptocurrency exchanges by allowing eligible investors to gain exposure through traditional brokerage accounts.

The staking component also introduces a potential supply-side effect. If the fund attracts substantial investment and stakes most of its holdings, a large portion of the acquired INJ could be committed to network validation rather than remaining immediately available for trading.

However, the actual impact will depend on the fund's assets, investor demand, staking participation, and redemption activity. A listing announcement alone does not guarantee significant inflows or a sustained reduction in circulating market liquidity.

Injective has also been expanding its financial ecosystem through tokenized assets, derivatives, and tokenomics initiatives. Its Community BuyBack combines ecosystem revenue distributions with permanent INJ burns, while Stockdrop adds tokenized stock rewards for eligible participants.

Altcoin Buzz recently covered Injective's buyback, token burns, and Stockdrop developments, providing further context on how the network is developing its financial ecosystem.

Can INJ Maintain its Rally?

The Nasdaq approval represents an important milestone for Injective's institutional adoption. The combination of brokerage-based exposure and staking could make INJ more accessible to investors who prefer traditional financial products.

However, the next indicators will be the ETF's actual assets under management, trading activity, and the amount of INJ committed to staking. These figures will help determine whether the launch translates into meaningful demand for the token.

For now, the ETF approval has given INJ a fresh catalyst. Whether the price rally continues will depend on investor participation and broader market conditions.